Transactions

This article is for Operators only.

Concurrent transaction approval

It's possible to create multiple transaction requests in an account. Transactions are broadcasted only when all approvals have been collected from the necessary Operators. They can be approved in any order.

To allow this, two different balances will be displayed in the account:

  • the total balance: the account's total balance at a given time.
  • the available balance: the account's balance minus the total amount of pending transaction requests and the expected max fees. Put simply, this is the amount you can spend in your next transactions.

The available balance is calculated differently depending on the crypto asset.

Crypto asset Available balance

Bitcoin and Bitcoin-like

Account total balance - (total pending transaction amounts + pending max fees in the account)

Ethereum accounts that don't have children ERC20 accounts
Ethereum accounts that have children ERC20 accounts

Account total balance - (total pending transaction amounts + pending max fees in the account + pending max fees in all children ERC20 accounts)

ERC20

Account total balance - the account's total pending transactions

Transaction fees & speed

When creating a transaction, you first need to select a transaction speed: slow, medium (default), or fast. The selected speed will determine the total transaction fees.

At this stage, the exact amount is unknown as multiple factors must be taken into account such as the crypto asset, the size of the transaction, and the state of the network. For this reason, only the total max fees is displayed when creating transaction requests. That is the highest amount you will pay for the transaction to be approved. The fee can be lower but will never go above that amount.

Unspent Transaction Outputs (UTXOs)

In Bitcoin and Bitcoin-like blockchains, transactions are made of inputs and outputs:

  • The output represents the amount sent to the recipient, and
  • The input is the change that goes back in your wallet and that can be reused in another transaction.
  • Example: You would like to make an $8 transaction but you only have a $10 bill. You'll use this bill to pay and receive $2 in change.

UTXOs are therefore the collection of all the change (or input) that exist in the account and which, added together, equals to the total balance.

Transaction rules

Transaction rules can vary from an account to the other. It'll affect how you create transactions as the amount per transaction can be limited as well as the possible list of allowed recipients. Additionally, a different approval workflow can be implemented.

To find out which rules have been defined in an account, go to Accounts > Account dashboard > and open the Rules section.

Limitations